Case Code : CLMISC011
Publication date : 2010
Subject : Miscellaneous
Industry : Banking
Length : 03 Pages
Price : Rs. 100
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Mortgage, Credit, credit limit, letter of credit, bank guarantee, legal opinion, funds flow analysis, clean drawings, irregular drawings statement
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The case is meant for discussing the topic of Mortgages in the course on Credit Management. It details the predicament in which the bank manager and other officials of a mid-sized bank find themselves after the bank was duped by some unscrupulous elements.
The bank had been duped by some unscrupulous businessmen. Now Raju Rastogi (Rastogi), the young and energetic Branch Manager, and the other bank officials involved in the matter were trying to dissect the situation and understand where they had gone wrong and how such a situation could be prevented in future...
Questions for Discussion:
1. List out the lapses on the part of the branch functionaries of the Heaven’s Cross Road and Kailashpur branches.
2. What were the guiding safeguards which the Branch Manager and Field Officer failed to follow?
3. What are the responsibilities of the Advocate who furnishes the legal opinion and what safeguards / stipulations should the bank follow while obtaining a legal opinion from branch advocates?
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